5th Nov 2009 by Gary
An insurer at its most basic and important level, is in reality an aggregator of money for those insuring things like their lives, health, homes and cars, where the overall money collected in premiums is able to be used to cover castrophic events in order to protect them while going through it.
This can be accomplished because of the whole is greater than the parts in this case, and collecting money from everyone enables individuals to protect themselves from financial ruin in case of unforeseen events.
Most insurance companies invest the premiums paid by clients to further grow the overall money they control to generate profits and cover all events covered by the insurance.
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